Demand for an environmentally-friendly timber is expected to grow by as much as 15 per cent over the next decade a report suggests.
Cross Laminated Timber (CLT) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025 forecasts remarkable growth for the timber which is used from residential units to government buildings.
The analysis provides a detailed assessment of the segmentation of cross-laminated timber market and the market’s competitive dynamics.
What is CLT?
Cross-laminated timber is a prefabricated engineered wood panel made up of three to four layers of solid-sawn lumber or composite lumber.
Globally, it is considered an advanced building material in the construction industry due to its superior properties.
Global demand for cross-laminated timber was valued at around US$ 670.2m in 2016 and is anticipated to expand at a rate of 15.1% from 2017 to 2025.
The report including markets for cross-laminated timber in MEA, North America, Latin America, Asia Pacific and Europe.
It concluded that cross-laminated timber reduces the impact of construction activity on the environment and decreases disruption in local communities.
Due to this, the demand has been increasing steadily. It also helps in keeping the environment clean by generating zero waste during its production.
cross-laminated timber reduces the impact of construction activity on the environment and decreases disruption in local communities.
CLT is more popular in Europe compared to other regions in the world. Europe accounts for over 50% of the global cross-laminated timber.
CLT can also be used for educational institutes, public buildings, and industrial & commercial spaces.